The crisis has curbed the price surge on real estate even in such attractive resorts as Montenegrin ones.
It is not enough to say that the growth of prices for real estate in Montenegro has stopped – in fact, its value has started to fall! Moreover, the scale of price reductions is quite impressive – up to 40%. Of course, this concerns poorly equipped housing (standard buildings, minimum amenities) located far from popular resorts. On the other hand, prices for luxury villas have also fallen: such real estate in Montenegro is in decreasing demand, and it has to be sold for next to nothing.
Prices for good cottages and well-equipped apartments in Budva, the Bay of Kotor, and the national parks of Montenegro have not changed. That is, for the 'golden mean', the rate of price growth simply slowed down, and then decreased somewhat: now is a good time to purchase quality real estate in Montenegro – although it is difficult to call it cheap, but prices at the moment are quite adequate. The same can be said about luxurious cottages – they are now quite inexpensive, but there is a high chance of losing money when trying to resell the property later.
You can buy cheap real estate in Montenegro from older construction only if you don't have money for a better option and really, really want to own a house by the sea. Over the years, already aging houses and apartments only get worse in terms of their characteristics, which naturally does not increase their price.
For those who have long planned to buy a house by the sea, now is the time to take advantage of the crisis in the real estate market in Montenegro and purchase inexpensive but quality housing. Especially since due to the crisis, many European buyers have stopped actively buying houses and apartments: Montenegrins these days do not have to choose who to sell to. This also explains that if earlier real estate in Montenegro could even increase in price during negotiations, now it is quite realistic to get a 5-15% discount off its original price just by bargaining with the owners.
For next year, experts predict another price increase – not as much as in the pre-crisis period, but in any case, lower prices for real estate in Montenegro than now are unlikely to be seen.
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